How to Avoid Partnership Disputes in 2 Simple Steps
Being in charge of your own company can take years to master. Sharing the responsibility of the company with a partner is a whole other issue to tackle. It takes collaboration, communication, deliberation, and so much more to earn success. However, with the right partner (and team of lawyers to help), the reward can be exponential.
Contact the SPGG attorneys today if you need guidance with a partnership dispute!
Inevitably, partnership disputes will happen. People have different ideas and ways of doing things. However, with a written agreement and frequent communication, your partnership should thrive instead of struggling to survive. Consider the following two steps:
Write Out Each Partner’s Responsibilities
From the beginning, each partner should know exactly which responsibilities belong to him or her. With a written agreement, the chance of miscommunication drops significantly. And, there will always be a hard copy to reference in the event of a misunderstanding.
Responsibilities will differ depending on the ability, need, and desires of your partner. However, be as specific as possible when writing this document. Feel free to revise it as time passes, but always make sure both parties are aware of the changes.
Communicate Your Frustrations
By the time a dispute occurs, many people have allowed the frustration to build up over time. Instead of harboring ill feelings or frustrations, communicate to your partner if something happens you don’t agree with right as they happen. However, remember to not only point out the problem, but a solution as well.
By doing this, you are keeping the line of communication open and dissolving any frustrations before they can become a greater problem. Additionally, your partnership will grow stronger instead of weaker.
If you feel like your partnership needs legal intervention, contact us today! One of our attorneys will gladly help you and your partner mediate your differences.